Vicinity wins $500 million on portfolio revaluation

Nick LenaghanProperty editor

Updated Jan 24, 2017 – 6.08pm, first published at 2.42pm

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Shopping mall owner Vicinity Centres has gained a $508 million uplift in the value of the 75 shopping centres it owns directly in its latest portfolio appraisal.

The revaluation represents a 3.5 per cent increase in the past six months, with the biggest lift coming from the $286 million gain at the trophy mall it owns jointly with billionaire John Gandel, the Chadstone shopping centre.